Protection to Young Industries As Applied in the United States. a Study in Economic History
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To quickly assess the difficulty of the text, read a short excerpt:
Grosvenor, Does Protection Protect, pp. 174-175.
54 PROTECTION TO YOUNG INDUSTRIES.
rapidly ; and the producers had to go through a period of severe depression.
In 1816 Congress was asked to extend pro- tection to the manufacture of iron, as well as to other industries. The tariff of 1816 imposed a duty of 45 cents a hundred-weight on ham- mered-bar iron, and one of $1.50 a hundred- weight on rolled bar, with corresponding duties on sheet, hoop, and rod iron. Pig-iron was admitted under an ad v...alorem, duty of 20 per cent. At the prices of bar-iron in 1816, the specific duty on hammered bar was equivalent to about 20 per cent,^ and was, therefore, but little higher than the rates of 15 and 17 J per cent levied in 1804 and 1807. The duty on rolled bar was much higher, relatively to price as well as absolutely, than that on hammered bar, and was the only one of the iron duties of 1816 which gave distinct and vigorous protection.
These duties were not found sufficient to pre- vent the manufacturers from suffering heavy losses ; more eff'ective protection was demanded.
What to read after Protection to Young Industries As Applied in the United States. a Study in Economic History?
You can find similar books in the "Read Also" column, or choose other free books by F W Frank William Taussig to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Grosvenor, Does Protection Protect, pp. 174-175.
54 PROTECTION TO YOUNG INDUSTRIES.
rapidly ; and the producers had to go through a period of severe depression.
In 1816 Congress was asked to extend pro- tection to the manufacture of iron, as well as to other industries. The tariff of 1816 imposed a duty of 45 cents a hundred-weight on ham- mered-bar iron, and one of $1.50 a hundred- weight on rolled bar, with corresponding duties on sheet, hoop, and rod iron. Pig-iron was admitted under an ad v...alorem, duty of 20 per cent. At the prices of bar-iron in 1816, the specific duty on hammered bar was equivalent to about 20 per cent,^ and was, therefore, but little higher than the rates of 15 and 17 J per cent levied in 1804 and 1807. The duty on rolled bar was much higher, relatively to price as well as absolutely, than that on hammered bar, and was the only one of the iron duties of 1816 which gave distinct and vigorous protection.
These duties were not found sufficient to pre- vent the manufacturers from suffering heavy losses ; more eff'ective protection was demanded.
What to read after Protection to Young Industries As Applied in the United States. a Study in Economic History?
You can find similar books in the "Read Also" column, or choose other free books by F W Frank William Taussig to read onlineMoreLess
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